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Check out the companies making headlines in midday trading Friday.
Amazon — Shares of the e-commerce giant jumped more than 11%, giving the broader market a boost, after the company reported better-than-expected second-quarter revenue and issued an optimistic outlook. Revenue growth of 7% in the second quarter topped estimates, bucking the trend among its Big Tech peers.
Roku — Roku shares plummeted 25% after the streaming company reported disappointing results for the second quarter, as it faces a slowdown in advertising. The company shared disappointing guidance for the current quarter, noting that dwindling ad spending and recessionary fears could continue to impact its business going forward.
Apple — Shares of Apple rose 3% after the company beat Wall Street profit and revenue forecasts, and CEO Tim Cook said he expects growth to accelerate despite «pockets of softness.» Sales of its iPhone saw double-digit growth in new customers.
First Solar — Shares of First Solar surged more than 10% after the company reported better-than-expected earnings for the second quarter. Oppenheimer also upgraded the stock to outperform from neutral on Friday citing a deal reached between Sen. Joe Manchin, D-W.V. and Senate Majority Leader Chuck Schumer, D-N.Y., on a bill that includes climate spending.
Chevron, Exxon Mobil — The energy stocks jumped on the back of record profits reported in their second-quarter earnings, boosted by higher oil and gas prices. Chevron jumped 8.2%, and Exxon Mobil added 4.3%.
Bloomin' Brands — Shares jumped 2.6% after Bloomin' Brands reported second-quarter earnings that beat analyst expectations. The restaurant company behind Outback Steakhouse and other brands earned 68 cents per share
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